“We have candidates from our ad.” I hear it regularly.
With unsurprising regularity, I check back and the position is still open… one, two, three months later, or more. If you’ve ever run want-ads for open leadership positions, you already know that generally the quality of “applicants” is low. Sometimes (too often) low-quality ends up being hired.
Was low-quality what they were shooting for? Of course not. Too often, ASCs and corporations seeking experienced ASC leaders end up settling for mediocrity. Settling for the best they think they can get… the best of those who “apply”. I jokingly say that want ads produce the best of the unemployed, the underemployed, the dissatisfied and problem-children (but it’s no joke).
There’s a saying; “Don’t let good-enough be the robber of great”. That may sound like “the enemy of great is perfect” but they are dissimilar. The latter talks about “passing” on a great candidate because someone holds the unlikely prospect of finding a “perfect” person… perfect in ways that are often admittedly undefined. “They just didn’t ‘wow’ me.” Really?
Letting good-enough rob you of great is different. It’s settling for less than you deserve. After 23 years serving health care clients, and over 15 years serving the ASC/Surgical-Hospital world, I’ve proven again and again that clients shouldn’t and don’t have to settle for “good-enough”.
Is it because I’m just that good? With all humility, it is due in part to my talent, vast experience, deep understanding of the industry, and extensive network of contacts. But it’s more than that. The truth is that an ad that is never read is a waste of money. And an ad that is read, but not read by the best candidates, is equally a waste. In fact, that ad could actually be working against you. It could be wasting your valuable time by clogging your email inbox with low-quality, inexperienced or even unqualified applicants. With ads, you only get those souls who are actually reading the ads. And that’s a very very small percentage of the market. With that approach, you have only a few from which to choose.
In my early days of executive search, I recall running ads. Once I had a golf-pro (no one famous) respond to an ad for a hospital leadership position. Yes really; a golf pro. You probably have your own stories. “Do they even read the ad,” I’ve heard clients say. No, in many cases, they do not.
Okay, you get my point; ads are a super-low (or zero) return on investment. Admittedly, sometimes an ad will get a qualified ASC professional to respond. But are they the best you could get? Where good-enough becomes the robber of great, is when you convince yourself that a six (on a scale of 1-10) is really an eight. Or a seven is really a ten.
“But it’s the best we can do.” Respectfully, no it’s not. Don’t let good-enough be the robber of great! You can do better. In many cases, a lot better. Any senior executive knows that the difference between good-enough and great can be measured in hundreds-of-thousands or even millions of dollars.
Why do people settle for less? Why do people let good-enough be the robber of great?
I’ve found that there’s usually one or more of three reasons:
1. Impatience/Desperation
2. Lack of Understanding
3. Aversion to Cost
Impatience/Desperation:
Impatience and/or desperation can stem from an unwillingness act promptly, at the time of a resignation. Some folks simply fail to accept the truth that the person who just resigned is really leaving or by wasting days (or weeks) trying to talk them out of it. If they want to leave, let them. Ultimately, they will anyway, even if it’s a few months later. Waiting too long can often lead to a sense of desperation and willingness to settle for someone that looks “okay.”
It can also be based upon an unrealistic timeline about how long a search will take to conduct. Generally, a search will take 60-90 days to get someone in-the-chair (allowing for search time, interviews, offer-extension, and 30 day notice). Sometimes more. Hesitating to act, can put an ASC’s partners and their team at a disadvantage in securing a high-value and supportive leader. That’s because the longer a position is open, the harder it is to fill. High-value ASC leaders are overly-cautious about a position that’s been open for a long time.
Lack of Understanding:
Sometimes being tempted to hire good-enough is based upon a lack of understanding of what “great” really looks like or what the market could actually produce. Why hire a 7 (who interviews like a 9) if you could hire a real 9? Getting “the word out” to top talent, most of whom don’t even know about the opening, is critical to maximizing your chances. How are you doing that?
A critical point of understanding is how to evaluate candidates, once you do get their attention; what questions should you ask, what questions can you (or cannot) ask, and how can you attract, without inadvertently offending a candidate? You only get one shot at the best candidates.
Aversion to Cost:
Everyone wants value and no one wants to pay any more than necessary. Let’s face it, very few people really want to have surgery either. However, if you really needed surgery, you’d want the best surgeon and perioperative team possible, right? If you’re a surgeon, you want the best people, equipment and supplies! Why would you settle for less in your Administrator or Director of Nursing? These two key positions are managing your multi-million dollar business and protecting your brand (reputation)!
I think we often place too much emphasis on cost when buying anything. Over the years, I’ve come to believe that quality-is-paramount and that high-quality is the best value, in the long-run.
The tangible and intangible costs of a vacant leadership position (or the wrong person in the position) in terms of non-compliance with state or CMS regulations, lack of accreditation-readiness, key staff turnover and simply not having an experienced leader at-the-wheel, cannot be accurately measured. But its cost can be felt over the short and long terms.
When it comes to paying for talent, there is one overarching rule to acquiring someone you want; It does you no good to pay someone just enough to get them, but not enough to keep them.
What about search firms? Some folks would rather hire from want ads than use a search firm to identify, attract and help them acquire top talent. Search firms are not cheap (neither is surgery), but hiring the right search firm can be the smartest and best long-term investment you can make in your team/business/future-distributions.
How would you feel about using an executive search firm if it were budget-neutral?
Try this: calculate the monthly cost of salary plus benefits, already budgeted for the open position (benefits usually cost 20-25% of salary). Multiply that amount by the estimated time to complete a search (three months). The resulting savings to the budget, from not paying that salary and benefits, during the search, is usually more than the cost of a search fee! That is to say, if the position is open for three months or longer, your annual budget is not adversely affected by a search fee. It’s budget neutral.
It’s interesting that we never shop for a surgeon by price. When we need surgery, we want experience, quality and an excellent outcome. To that end, we seek out specialists with a track record of excellence. As with a selecting a surgeon, hire a search specialist with years of ASC experience who really knows your world!
When it comes to excellent outcomes, in surgery or in hiring, it’s better to pay more than you’d planned, than less than you should.
Remember this quote from Benjamin Franklin:
“The bitterness of poor quality remains long after the sweetness of low price is forgotten.”
Don’t settle for poor quality in any area of your life. How important is your business’ health?
Don’t let good-enough be the robber of great! When good-enough… isn’t; call me.
Greg Zoch is a partner and managing director for Kaye/Bassman International, a 37 year old executive search firm. He specializes in assisting clients and candidates in the Ambulatory Surgery Center and Surgical Hospital world. He may be reached at gnz@kbic.com or by phone at 972-265-5290.
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